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Cloud service provider Dropbox, Inc. (NASDAQ: DBX ) has reported higher revenue and profit for the fourth quarter of 2022 as the company’s user base grew 6%.
Fourth-quarter earnings, excluding special items, fell slightly to $0.40 per share from 0.41 US dollars in the corresponding period last year. On a reported basis, net income was $328.3 million or $0.93 per share, compared to $124.6 million or $0.32 per share in the fourth quarter of 2021.
Revenue increased 6% year over year to $598.9 million. The top line benefits from a 6% increase in the number of paying users.
Check out this space to read management/analyst commentary on Dropbox’s Q4 results
“Looking ahead to 2023, we remain focused on implementing our strategic goals, improving operational efficiency, and continuing to leverage advances in AI and ML into our product roadmap as we pursue our mission of designing a more enlightened way of working,” said Dropbox CEO Drew Houston.
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